Auto sales in SE Asia up some 46 percent: Report
Auto sales in SE Asia up some 46 percent: Report
SINGAPORE (AFP): Sales of automobiles in Southeast Asia jumped 46.2 percent in the first 10 months of 1999 compared to the same period last year, experts said.
A total of 519,039 vehicles were sold during the 10 months of 1999 against 355,029 sold last year with monthly sales in Indonesia reporting the highest growth, Visteon, one of the largest automotive component makers in the world, said in a report.
Sales of vehicles in Indonesia rose 22 percent to 13,506 in October compared to the same month last year, the highest monthly sales total of the year and the fifth consecutive monthly sales in the country.
Total sales in the first 10 months also increased by nearly 20 percent to 64,894 units, according to Visteon.
"The strong sales performance in October is a welcome change from earlier in the year when the country was selling only a few thousand vehicles per month," Gregory Adams, ASEAN manager for Visteon said in the report.
"Hopefully, the upward trend will continue as the country rebounds from two years of economic difficulties," he said.
In Malaysia, which accounts for 44.8 percent of all vehicles sold in the region, sales spiraled upwards with total sales of 233,614 vehicles in the first 10 months of this year, a surge of 91.65 percent compared to 1998.
In October alone, sales of vehicles in Malaysia totaled 26,310, nearly equal to its record-setting sales of 26,455 units in September.
Sales in the Philippines also increased seven percent in October to 6,914 units, the country's third consecutive month increase, but sales for the first 10 months fell 8.42 percent to 60,663 units.
Despite the drop in sales this year versus the first 10 months in 1998, the market in the Philippines is showing signs of steady growth, Visteon said.
Thailand was the only market to record a significant month-on- month decrease, Visteon said, with sales dropping ten percent to 18,322 units in October from 20,379 units sold last year.
Heavy rain throughout much of Thailand during the month was to blame for the decrease as it prevented some consumers from visiting dealer showrooms, Visteon said.
Total sales in the first 10 months, however, was up 41.72 percent in Thailand to 159,868 vehicles
The year-to-year market shares in the combined four countries were led by Malaysia's Proton with 24 percent followed by Japan's Toyota 19 percent, Perodua 13 percent, Isuzu 10 percent, Mitsubishi nine percent, Honda seven percent and Nissan six percent.